New Delhi, November 15: After Binny Bansal's exit from homegrown Flipkart, it is reported that chief executive officer of Myntra and Jabong Ananth Narayanan is likely to step down from the firm amid his alleged conflict with Flipkart CEO Kalyan Krishnamurthy. The conflict arises because Flipkart has its own Fashion vertical which is headed by Rishi Vasudev. Binny Bansal Steps Down as Flipkart CEO Over Probe in Personal Misconduct.

"If Ananth has to report Kalyan, he will also not stay for long because Kalyan already has Rishi Vasudev who manages fashion," told unidentified sources to Money Control.

This comes after the new company structure was implemented on November 13, Narayanan, has to report Kalyan Krishnamurthy. “The change in the reporting structure is a precursor to the integration of Myntra and Jabong with the larger Flipkart Fashion unit,” Business Standard reported quoting unidentified sources.

Earlier this week on Tuesday, Flipkart co-founder and group CEO Binny Bansal resigned from the company with immediate effect, following the 'serious personal misconduct’. However, Bansal along with Sachin Bansal, co-founder of Flipkart, denied all the allegations. Meanwhile, Flipkart is controlled by Walmart Inc after it acquired 77 per cent of Flipkart worth $16 billion in May. According to Billionaires net worth 2016, Binny Bansal has a net worth of $1.2 billion.

(The above story first appeared on LatestLY on Nov 15, 2018 06:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).